Tens of thousands of Canadian businesses expected to close permanently despite government help [Financial Post (Toronto, Ontario, Canada)]
Toronto Dominion Bank (The) (TD)
Last toronto dominion bank (the) earnings: 2/27 06:30 am
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Source: Financial Post
Tens of thousands of Canadian businesses expected to close permanently despite government help CFIB says government took too long to roll out emergency support programs and as a result, many companies won't survive Tens of thousands of Canadian businesses will be forced to shut permanently because they won’t be able to weather the effects of social distancing measures, according to the head of a lobby group. The government of Prime Minister Justin Trudeau took too long to roll out emergency support programs and as a result, many companies won’t survive, says Dan Kelly, president at the Canadian Federation of Independent Business. A survey of CFIB members shows 80% of small and medium firms are closed or operating at reduced capacity because of the pandemic, meaning only 20 per cent are fully operational. “Even in the optimistic scenario with full utilization of all of these support programs, I still see no scenario under which there are not tens of thousands of permanent business clos
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